Gulf Navigation Holding PJSC

The Board of Directors of Gulf Navigation Holding PJSC has issued a Shareholders' Circular to inform eligible shareholders about the issuance of mandatory convertible bonds. These bonds will be convertible into shares at a specified issue price and will be offered to the eligible shareholders of the company.

The Board of Directors of Gulf Navigation Holding PJSC is inviting shareholders to a general assembly meeting on July 10, 2025, at the Novotel Hotel in Dubai and online. The meeting will address the acquisition of Brooge Petroleum & Gas Investments FZE, Brooge Petroleum & Gas Investments Phase III FZE, and BPGIC Phase 3 Limited. A special resolution will be considered to approve the transfer and registration of shares and mandatory convertible bonds to Brooge Energy Limited or its ultimate beneficial owners, ensuring no owner exceeds 30% of the company's share capital, with a one-year lock-up period for the bonds' conversion into shares, in compliance with regulatory and economic standards.

Gulf Navigation Holding PJSC (GULFNAV) has signed an AED 3.2 billion acquisition agreement with Brooge Energy Limited, a NASDAQ-listed company specializing in crude oil and fuel storage. The agreement, formalized at a ceremony in Dubai, marks GULFNAV's acquisition of Brooge's assets and subsidiaries. This strategic move aims to enhance GULFNAV's capabilities in energy logistics by expanding its storage and infrastructure capacities. The acquisition involves a payment structure that includes cash, new shares, and Mandatory Convertible Bonds (MCBs). Specifically, 358.8 million new shares will be issued to Brooge, AED 2.336 billion in MCBs will be convertible at AED 1.25 per share, AED 500 million in MCBs will be offered to GULFNAV’s existing shareholders, and a cash component of AED 460 million will be included. Brooge, founded in 2013, is recognized for its advanced technology in oil storage and has a significant presence in Fujairah.

The Board of Directors of Gulf Navigation Holding PJSC held a meeting on 14 May 2025. During this meeting, they approved the interim financial statements for the three-month period ending 31 March 2025. Additionally, they agreed to call for a general assembly meeting, pending approval from the Securities and Commodities Authority. The general assembly will consider two main issues: a proposal to amend the company’s Articles of Association to increase foreign ownership of the company's shares, and amendments to the structure of an acquisition transaction to allow the transfer of bonds and shares from Borouge Energy Limited to third parties, including its ultimate beneficial owners.

The document is a notification regarding a scheduled board meeting of Gulf Navigation Holding PJSC. The meeting is set to take place on Wednesday, 14 May 2025, at 10:00 am. The agenda includes considering the approval of interim financial statements for the three-month period ending 31 March 2025, discussing the possibility of calling a general assembly meeting pending approval from the Securities and Commodities Authority, and proposing an amendment to the company's Articles of Association to increase foreign ownership percentage in the company's shares. Additionally, the meeting will address any other matters that may arise. The notification is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

The document is a list of nominees for the Board of Directors of Gulf Navigation Holding PJSC, dated April 27, 2025. It includes two nominees: Mohammed Ali Mohammed Ahmed Althawadi and Ahmed Khalifa Saif Khalifa Alqubaisi, both of whom are non-executive and independent members. The information is provided by Nader Muqbel, the Director of Investor Relations at Gulf Navigation Holding PJSC.

Gulf Navigation Holding PJSC has announced the opening of the nomination period for its Board of Directors membership. The nomination period is from April 9 to April 18, 2025. Eligible individuals or shareholders can apply by submitting an application to the company's headquarters in Dubai, accompanied by a brief profile and the desired membership category (Executive, Non-Executive, or Independent Member). Two board members will be elected, and the process complies with relevant governance regulations. Applications must include specific documents as per regulatory requirements. After the nomination period, candidates cannot transfer their candidacy, and the list of nominees will be published on April 27, 2025, and submitted to the Securities and Commodities Authority and the Dubai Financial Market.